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Money Monday: Are You Paid Enough?

It’s that time of the year when I receive my compensation plan and my bonus gets paid out. I’m happy to report that I’m pleased with the numbers. Not only do I enjoy what I do, but I feel I’m paid a fair wage.

Exactly one year ago, I was no where close to pleased. Frankly, I was pissed. After I received my comp plan, I returned to my cubicle and acted like I’d just been pink-slipped. I grabbed the calendar and threw it in the trash. I tore down personal pictures and put them in my purse. I emptied my filing cabinet and put the folders in the recycling bin. I left the office dejected, as if I truly had been laid off.

Because I’m an intense and productive hard-worker, I expect to be compensated for the effort I put in. I thrive on compliments, appreciation, and cold hard cash. After a sleepless night, I knew that tears would do me no good nor could I very well implode in a fit of anger. I had to get even. I had to prove not only to my employer, but to myself that I was worth more. I had to prove that my reaction of shock and utter disappointment was justified.

Send brief emails (no more than a handful of sentences) describing qualifications and attach resume.

Do not send cover letters. That is a serious waste of time. If you are qualified, your resume will prove your qualifications, not what you write in a personalized cover letter.

Given that I only applied to jobs I was qualified for, I got a good response rate from hiring managers. Two weeks after I had started my job search, I secured my first offer and was on my way to getting a second. Along the way, several recruiters and hiring managers asked that I contact them if ever I found myself looking to make a switch in the future.

Keep in mind, I didn’t want to leave my job, I only felt I wasn’t paid fairly. Once I secured that first offer, I asked that my employer match it.

Success!

It’s around this same time that I hear complaints from people about work and pay. Believe me, I’ve been there. If you don’t feel you’re paid enough, then test your marketability by gathering offer letters, and come to some conclusions about whether or not you’re worth what you think you’re worth. It’s important to be realistic, but more importantly you have to be confident and have faith in yourself.

And upon graduating I was told women weren’t “good” negotiators. On what day? Job well done! I usually don’t feel fairly compensated until I leave my job for another…I think it’s about that time that I begin looking…

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Welcome to my site, derived from an advice column I wrote while getting my MBA. I'm Catherine Gacad. I live in the San Francisco Bay Area. I give helpful, opinionated advice based on my own experience and from the expertise of my extensive network. For more click here.